By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Daily Report NigeriaDaily Report NigeriaDaily Report Nigeria
Notification Show More
Font ResizerAa
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Reading: FG Approves N21bn For Purchase Of Meters – NERC
Share
Font ResizerAa
Daily Report NigeriaDaily Report Nigeria
  • METRO
  • NEWS
  • POLITICS
  • SPECIAL REPORT
  • FACT FILE
Search
  • HOME
  • NEWS
  • POLITICS
  • METRO
  • ENTERTAINMENT
  • SPORTS
  • FACT FILE
  • SPECIAL REPORT
Have an existing account? Sign In
Follow US

Home | FG Approves N21bn For Purchase Of Meters – NERC

News

FG Approves N21bn For Purchase Of Meters – NERC

Demilade Bakare
Demilade Bakare
Published: June 15, 2025
Last updated: June 15, 2025
2 Min Read
Share
FG Approves N21bn For Purchase Of Meters – NERC | Daily Report Nigeria
SHARE

The Federal government has approved a 21 billion naira funds for the purchase of meters.

According to the Nigerian Electricity Regulatory Commissions (NERC), the funds is said to be disbursed to 11 electricity Distribution Companies (DisCos) to provide meters for customers.

 

ATTENTION: Click “HERE” to join our WhatsApp group and receive News updates directly on your WhatsApp!

The announcement was made in NERC’s Order NO: NERC/2024/072 on the Operationalization of “Tranche A” of the Presidential Metering Initiative Under the Framework of Meter Acquisition Fund.

Also Read:  Otuaro Pledges Open Policy, More Opportunities For PAP Delegates

 

It said;

”The order signed by NERC Chairman, Mr Sanusi Garba and Commissioner Legal, Dafe Akpeneye, shall become effective from June 2024 and may be amended or revoked by subsequent orders issued by the commission.

“The commission hereby approves the sum of N21 billion apportioned pro rata to contribution by the DisCos as Tranche A of the MAF scheme.

 

”Attached to this order as Schedule 1 is a breakdown of the funds available for each DisCo for the purchase of end-use customer meters.

”All the meters to be procured and installed under the MAF framework shall be at no cost to the customers of the DisCos,” it said.

 

”The inability of distribution companies (DisCos) to raise financing in the form of debt or additional equity was identified as the major constraint in the acquisition and deployment of end-use meters and other capital investments.

 

”The Meter Acquisition Fund (MAF) scheme was therefore, developed and approved by the commission, primarily to address the challenges of DisCos creditworthiness inhibiting the deployment of end-use meter in NESI.

”By creating a credible revenue stream from the market funds on the back of which long-term financing may be secured by the utilities,”

For publication of Press Releases, Statements, and Advert Inquiries, send an email to info@dailyreport.ng
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link

Latest Updates

Club World Cup : Bayern, Flamengo Advance Early to Round of 16 | Daily Report Nigeria
Club World Cup : Bayern, Flamengo Advance Early to Round of 16
Sports
Nigeria’s First Female Fighter Pilot Bags Top Honours at Ghana Military College | Daily Report Nigeria
Nigeria’s First Female Fighter Pilot Bags Top Honours at Ghana Military College
News
American TikToker Accused of Scamming Nigerian Women, Stealing Over $10,000 | Daily Report Nigeria
American TikToker Accused of Scamming Nigerian Women, Stealing Over $10,000
Gists
HRH King Bubarye Dakolo Drags Shell to Court in $3bn Divestment Suit | Daily Report Nigeria
HRH King Bubarye Dakolo Drags Shell to Court in $3bn Divestment Suit
News
Suicide Bomber Kills 10, Injures 7 in Borno Market Blast | Daily Report Nigeria
Suicide Bomber Kills 10, Injures 7 in Borno Market Blast
Metro

TOPIC

2023 Elections Abuja Accident AFCON Anambra APC Arrest ASUU ASUU Strike Atiku Abubakar Bandits Bayelsa BBNaija Biafra Boko Haram Bola Ahmed Tinubu Bola Tinubu Breaking News Breaking News Nigeria Burna Boy Burutu CBN Celebrity news Chelsea Coronavirus court covid-19 Crime Daily Report Ng Daily Report Nigeria Daily Sports News Davido Delta Delta state DSS Education EFCC Elections English Premier League EPL Family federal government FG FIFA World Cup Football Fraud Godwin Emefiele Goodluck Jonathan Governor Nyesom Wike Gunmen Health Ifeanyi Okowa Imo INEC Insecurity IPOB IYC JAMB Kaduna Kidnap Labour Party Lagos Lagos State Manchester United Marriage Muhammadu buhari Music NASS NDDC NDLEA Niger Delta Nigeria NLC Nnamdi Kanu NNPC Nollywood Nyesom Wike Olusegun Obasanjo Pastor PDP Peter Obi Police Politicians President Bola Ahmed Tinubu President Muhammadu buhari Professor Yemi Osinbajo Protest Rape Reno Omokri Rivers State Senate Sheriff Oborevwori Social Media Suicide Super Eagles Tinubu Top Stories Twitter Victor Osimhen Zamfara

You Might Also Like

INEC Pledges To Conduct Better Elections in 2023 | Daily Report Nigeria
News

INEC Pledges To Conduct Better Elections in 2023

June 15, 2025
nnamdi kanu
News

Nnamdi Kanu Remains our Only Leader Ordained By God -IPOB

June 15, 2025
ASUU Strike: FG Doesn’t Have Funds To Meet ASUU’s Demands - Ngige | Daily Report Nigeria
News

ASUU Strike: FG Doesn’t Have Funds To Meet ASUU’s Demands – Ngige

June 13, 2025
Senator Annie Okonkwo is Dead | Daily Report Nigeria
News

Senator Annie Okonkwo is Dead

June 15, 2025
© Daily Media N Publishing LTD. All Rights Reserved.
  • Home
  • About Us
  • Adverts With Us
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?